Thursday's break below tech support at........>

CABLE: Thursday's break below tech support at $1.3018(76.4% $1.2958-1.3213) saw

rate extend its sharp corrective pullback, from the initial BOE react high of

$1.3125, to $1.3015 ahead of the close. Slippage continued in Asia to a low of

$1.3007 before it settled around $1.3120 ahead of Europe. Further demand has

allowed rate to nudge to $1.3025, as EUR/GBP settled back on Gbp0.8900. Cable

expected to continue taking direction from EUR/USD, which itself is looking

bearish, but with EUR/GBP retaining an underlying heavy tone the cross should

provide some counter buoyancy. UK Services PMI at 0830GMT, the most important of

the 4 data set, in focus this morning, market median 54.7 vs last 55.1. However,

US Employment Report at 1230GMT to overshadow. Cable support seen into $1.3000,

a break to expose short term target at $1.2987(1.618% swing $1.3016-64).

Resistance $1.3023 ahead of $1.3050 then $1.3064.